Bulletin: NM000010
Dear Associates:
The Superintendent of Insurance adopted new rates, forms and rules effective
New Rates
The variable portion of the rates was reduced 2%. Flat fees (such as endorsements and simultaneous issue rates) were not changed.
The new rate schedule (for original Ow...
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THIS BULLETIN IS FURNISHED TO INFORM YOU OF CURRENT DEVELOPMENTS. AS A REMINDER, YOU ARE CHARGED WITH KNOWLEDGE OF THE CONTENT ON VIRTUAL UNDERWRITER AS IT EXISTS FROM TIME TO TIME AS IT APPLIES TO YOU, AS WELL AS ANY OTHER INSTRUCTIONS. OUR UNDERWRITING AGREEMENTS DO NOT AUTHORIZE OUR ISSUING AGENTS TO ENGAGE IN SETTLEMENTS OR CLOSINGS ON BEHALF OF STEWART TITLE GUARANTY COMPANY. THIS BULLETIN IS NOT INTENDED TO DIRECT YOUR ESCROW OR SETTLEMENT PRACTICES OR TO CHANGE PROVISIONS OF APPLICABLE UNDERWRITING AGREEMENTS. CONFIDENTIAL, PROPRIETARY, OR NONPUBLIC PERSONAL INFORMATION SHOULD NEVER BE SHARED OR DISSEMINATED EXCEPT AS ALLOWED BY LAW. IF APPLICABLE STATE LAW OR REGULATION IMPOSES ADDITIONAL REQUIREMENTS, YOU SHOULD CONTINUE TO COMPLY WITH THOSE REQUIREMENTS.
EXHIBIT 1
13.14.9.18 PREMIUM RATES FOR ORIGINAL OWNER'S POLICIES: The following schedule of premium rates for original owner's policies shall be in effect from July 1, 2004 until modified by the Superintendent:
| Liability | Total | Liability | Total | Liability | Total |
| Charge | Charge: | Charge | Charge: | Charge | Charge: |
| Up to: | Up to: | Up to: | |||
| 10,000 | 190 | 24,000 | 313 | 38,000 | 416 |
| 11,000 | 199 | 25,000 | 320 | 39,000 | 422 |
| 12,000 | 206 | 26,000 | 327 | 40,000 | 430 |
| 13,000 | 216 | 27,000 | 338 | 41,000 | 436 |
| 14,000 | 224 | 28,000 | 342 | 42,000 | 444 |
| 15,000 | 234 | 29,000 | 349 | 43,000 | 451 |
| 16,000 | 242 | 30,000 | 357 | 44,000 | 458 |
| 17,000 | 251 | 31,000 | 364 | 45,000 | 466 |
| 18,000 | 259 | 32,000 | 372 | 46,000 | 472 |
| 19,000 | 268 | 33,000 | 378 | 47,000 | 481 |
| 20,000 | 276 | 34,000 | 385 | 48,000 | 488 |
| 21,000 | 285 | 35,000 | 393 | 49,000 | 494 |
| 22,000 | 294 | 36,000 | 400 | 50,000 | 502 |
| 23,000 | 304 | 37,000 | 409 |
| For amounts of insurance (in thousands) |
Portion of rate (per thousand) subject to agent commission add
|
Agent retention percentage |
Additional rate per $1000 to be collected on policy amounts in excess of $10 million (solely for underwriter) | Total Charged to Consumer |
| over $50 to $100 | $ 6.10 | 78-80% | $ 6.10 | |
| over $100 to $500 | $ 4.80 | 78-80% | $ 4.80 | |
| over $500 to $2,000 | $ 3.77 | 78-80% | $ 3.77 | |
| over $2,000 to $5,000 | $ 3.03 | 75% | $ 3.03 | |
| over $5,000 to $10,000 | $ 2.52 | 70% | $ 2.52 | |
| over $10,000 to $25,000 | $ 2.16 | 65% | $ 0.25 | $ 2.41 |
| over $25,000 to $50,000 | $ 1.88 | 60% | $ 0.25 | $ 2.13 |
| over $50,000 | $ 1.50 | 50% | $ 0.25 | $ 1.75 |
[6-16-86...4-3-95; A, 5-1-99; 13.14.9.18 NMAC - Rn, 13 NMAC 14.9.8.11 & A, 5-15-00; A, 5-31-00; A,
8-1-00; A, 3-1-02; A, 7-1-03; A, 7-1-04]